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Fixed Indexed Annuity

Summit

Nationwide Life Insurance Company

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7.6%

Best Cap

10%

Free W/D

50

Jurisdictions

Product data status: June 28, 2026

Rates, state availability, rider terms, and contract language must be confirmed with a licensed financial advisor or insurance professional before purchase. Guarantees are backed by the issuing insurer.

Model this product

See what Summit would do for you

Set your numbers and switch between growth, income, and liquidity. Index losses credit 0% — the floor — so a down market never reduces your value.

Product analyzer
Illustrative — live CANNEX rates as of June 28, 2026; not a projection or guarantee.
Crediting strategy
Compare against
$312,053
Est. value at age 80 (Summit)
0%
Floor — index losses never reduce value
Summit
✦
How crediting works: the cap limits positive index returns; a down year credits 0%, never a loss. A cap strategy tracks the index within its terms. What is a cap vs participation? →
Assumptions: illustrative — applies Summit's published cap rate (10% on J.P. Morgan Mozaic II Index) to a hypothetical index path (~5.4%/yr average, including down years) with a 0% floor over 20 years. Not a projection, quote, or guarantee. Live CANNEX rates as of June 28, 2026.

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See how Summit compares for your age, state, premium, and income goals alongside other Nationwide Life Insurance Company fixed indexed annuity options.

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Live rate data

Run live numbers for Summit

Current rates, riders, crediting strategies, state availability, and contract facts stay scoped to this Nationwide Life Insurance Company product.

Live product data

Rates as of June 27, 2026, based on the latest AdvisorWorld scan of CANNEX data.

S&P 500 annual point-to-point cap

7.6% cap on S&P 500

An A+-rated 7-year accumulation-focused fixed indexed annuity from Nationwide with S&P 500 and J.P. Morgan Mozaic II annual point-to-point cap exposure, a compact strategy menu, and a six-figure premium minimum.

1-year termAdvisorWorld + CANNEX data

Best fit

Accumulation buyers with a sizeable balance to deploy who want a mid-length 7-year surrender, recognizable S&P 500 cap exposure, and a simpler, easier-to-model two-strategy menu than the broader Peak lineup.

AM Best

A+ Superior

Surrender period

7 years

Free withdrawal

10%/yr

Availability

50 jurisdictions (excl. New York)

Featured crediting strategies

Index / strategyRate mechanics

S&P 500

S&P 500 Index

7.6% cap rate

1-year term · 7-year surrender · $100,000+

Rate varies by premium band.

S&P 500

S&P 500 Index

7.35% cap rate

1-year term · Surrender term not shown · $100,000+

Rate varies by premium band.

Fixed Account

Fixed Account

4% declared rate

1-year term · 7-year surrender · $100,000+

Rate varies by premium band.

Fixed Account

Fixed Account

3.9% declared rate

1-year term · Surrender term not shown · $100,000+

Rate varies by premium band.

+ 4 additional crediting options (J.P. Morgan...)
View rate listings (12 rows)

These are the current crediting strategy listings returned for this product. Use the filters to narrow by index, term, premium band, or rate type.

Cap: 10% · 1-yr

J.P. Morgan Mozaic II Index

cap

7-yr surrender$100,000+

Cap: 7.6% · 1-yr

S&P 500 Index

cap

7-yr surrender$100,000+

Fixed: 4% · 1-yr

Fixed Account

fixed

7-yr surrender$100,000+

Cap: 9.5% · 1-yr

J.P. Morgan Mozaic II Index

cap

7-yr surrenderUp to $99,999.99

Cap: 7.1% · 1-yr

S&P 500 Index

cap

7-yr surrenderUp to $99,999.99

Fixed: 3.8% · 1-yr

Fixed Account

fixed

7-yr surrenderUp to $99,999.99

Cap: 9.5% · 1-yr

J.P. Morgan Mozaic II Index

PP

$100,000+

Cap: 7.35% · 1-yr

S&P 500 Index

PP

$100,000+

Fixed: 3.9% · 1-yr

Fixed Account

FX

$100,000+

Cap: 9% · 1-yr

J.P. Morgan Mozaic II Index

PP

Up to $99,999.99

Cap: 6.6% · 1-yr

S&P 500 Index

PP

Up to $99,999.99

Fixed: 3.7% · 1-yr

Fixed Account

FX

Up to $99,999.99

Product analyst notes

How to think about this contract

Why it can stand out

  • Compact strategy menu — S&P 500 plus J.P. Morgan Mozaic II — makes this an easier contract to model and compare versus FIAs that bundle four or five proprietary indices.
  • A.M. Best A+ from a top-tier national carrier with three-agency coverage (Moody's A1, S&P A+) — the strength view does not depend on a single rating.
  • Wide free-withdrawal allowance — generous penalty-free liquidity for a 7-year FIA.
  • Fixed-rate option in the strategy menu alongside the indexed strategies — gives buyers a clear floor option without leaving the contract.

What to confirm

  • The premium minimum is a meaningful threshold — not designed for small first-time annuity buyers. Confirm the exact figure in the carrier's filing.
  • No optional GLWB rider and no built-in PIV income mechanism — accumulation-only product; buyers shopping primarily for lifetime income should look at a different Nationwide product.
  • Narrower strategy menu than Peak — no MSCI EAFE or Morgan Stanley 3D option here. Buyers wanting wider proprietary-index choice would find more optionality in Peak or Peak 10.
  • Death benefit details, MVA terms, and bailout rates aren't always shown on this page — confirm contract-level mechanics with the carrier before purchase.

Not ideal for

Buyers who need lifetime income from a rider, anyone unable to meet the six-figure premium minimum, anyone wanting MSCI EAFE or other broader proprietary-index choices (look at Peak or Peak 10), or buyers who can't lock funds up for the 7-year surrender period.

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All crediting strategies

View rate listings (12 rows)

These are the current crediting strategy listings returned for this product. Use the filters to narrow by index, term, premium band, or rate type.

Cap: 10% · 1-yr

J.P. Morgan Mozaic II Index

cap

7-yr surrender$100,000+

Cap: 7.6% · 1-yr

S&P 500 Index

cap

7-yr surrender$100,000+

Fixed: 4% · 1-yr

Fixed Account

fixed

7-yr surrender$100,000+

Cap: 9.5% · 1-yr

J.P. Morgan Mozaic II Index

cap

7-yr surrenderUp to $99,999.99

Cap: 7.1% · 1-yr

S&P 500 Index

cap

7-yr surrenderUp to $99,999.99

Fixed: 3.8% · 1-yr

Fixed Account

fixed

7-yr surrenderUp to $99,999.99

Cap: 9.5% · 1-yr

J.P. Morgan Mozaic II Index

PP

$100,000+

Cap: 7.35% · 1-yr

S&P 500 Index

PP

$100,000+

Fixed: 3.9% · 1-yr

Fixed Account

FX

$100,000+

Cap: 9% · 1-yr

J.P. Morgan Mozaic II Index

PP

Up to $99,999.99

Cap: 6.6% · 1-yr

S&P 500 Index

PP

Up to $99,999.99

Fixed: 3.7% · 1-yr

Fixed Account

FX

Up to $99,999.99

Income riders

Accumulation-focused — no income rider

This contract is designed for tax-deferred accumulation, not guaranteed lifetime income. No GLWB rider was returned because none is part of the contract design — compare against other accumulation FIAs on cap, participation rate, and surrender terms rather than lifetime income.

Linked review

Summit review notes

Discover the Nationwide Summit Fixed Indexed Annuity with tax-deferred growth, downside protection, and income focus. Explore rates, costs, and more.

3/5Read review
Nikhil Bhauwala

Common questions about Summit

● Can I lose money in Summit?

In a year the index falls, Summit credits 0% — the floor — so your account value does not drop from market losses. Up to 10% of your value can be withdrawn each year without a charge; withdrawals above the penalty-free amount during the surrender period can incur a surrender charge.

● When can I access my money without a surrender charge?

Up to 10% of your account value each year is penalty-free. The surrender period runs 7 years; after that you reach full liquidity. The Liquidity tab of the analyzer shows the year-by-year surrender charge.

● How does Summit compare to other FIAs?

Use "Compare against" in the analyzer to overlay Summit with a competing product on the same growth path and see a side-by-side spec row. The better fit depends on your goal — accumulation, income, or liquidity — and the comparison shows where each product leads.

Key Features

Free withdrawal

10%/yr

Annual amount that may be available without surrender charges, subject to contract terms.

Surrender waivers

2

Nursing home waiver, Terminal illness waiver

Death benefit

Standard Death Benefit

Beneficiary value depends on contract terms, withdrawals, and rider elections.

Strategy guarantee

Minimum guaranteed cap: 3.00%

Strategy guarantee

Guaranteed minimum interest rate (fixed): 1.00%

Strategy guarantee

Minimum guaranteed participation: 100.00%

Annuitization options

Single and joint

Contract conversion options should be confirmed before purchase.

Fund types

Non-qualified, Qualified

Availability can vary by state and product terms.

Surrender schedule

Yr 1

9%

Yr 2

8%

Yr 3

7%

Yr 4

6%

Yr 5

5%

Yr 6

4%

Yr 7

3%

After

0%

Nursing home waiver, Terminal illness waiver, Surrender waivers

Documents

product guide

Nationwide Life Summit brochure.pdf

Confidence: highReviewed Apr 9, 2026

Direct link not published — request the document from the carrier.

Carrier Ratings

AM BestA+
S&PA1
S&PA+

Contract notes from product data

Crediting design

How the interest-crediting choices are framed

Summit currently shows 11 distinct indexed or fixed crediting choices across 12 current rate listings, including S&P 500 Index, with 3 volatility-controlled index options grouped separately. These choices matter because caps, participation rates, fixed accounts, spreads, and renewal terms are different mechanics and should not be ranked as one simple rate list.

  • S&P 500 Index: 7.6% cap
  • S&P 500 Index: 7.1% cap
  • S&P 500 Index: 6.6% cap

Liquidity terms

Why access rules deserve as much attention as rates

A fixed indexed annuity can preserve more control than an income-only contract, but access is still governed by the surrender schedule, free-withdrawal terms, and waiver language. Those details are where many product comparisons become more meaningful than a simple rate list.

  • 10%/yr free withdrawal
  • 7 surrender years
  • Nursing home waiver
  • Terminal illness waiver

Verification note

Use carrier materials as term evidence, then confirm the current version

Carrier materials such as Nationwide Life Summit brochure.pdf help explain the contract language behind the data on this page; the latest document activity we see is Apr 24, 2026. For the current brochure, rate sheet, or specimen contract, confirm the state-specific version with the carrier or a licensed financial professional.

  • Rates and rider terms can vary by state and issue age
  • Carrier guarantees depend on claims-paying ability
  • Current contract forms should be confirmed before purchase

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